The first KFI was produced by a broker at 12:40am this morning showing the importance of 24/7 online services. After 31st October 2004 a KFI will continue to be produced in the same way but will then also contain the Key Facts logo and the appropriate regulatory wording.
Alan Cleary, head of sales, BM Solutions, said: "We're one of the first lenders in the market to launch our KFI. We've launched so early in order to give mortgage brokers every opportunity to get used to the KFI process. We're using it as an invaluable test period so that we can make any tweaks as and when necessary.
"We're committed to being the source of online compliant services. This move shows that we are doing everything possible to make brokers' lives easier throughout regulation," concluded Cleary.
BM Solutions launched its online service, BM Solutions Online (bmsolutions.co.uk) in January 2003. Available 24/7, brokers can now secure a virtual offer in less than one minute. The time it takes to submit a case has been reduced by the many features on offer - product matching, intelligent application forms and case tracking to name but a few.
